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Two furniture stores to close
| Wednesday, Aug 27 2008 10:30 AM
Last Updated: Wednesday, Aug 27 2008 10:36 AM
Two furniture store chains with operations in Bakersfield are going out of business.
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McMahan’s Furniture and Summer’s Furniture will close all their locations.
The industry has been struggling under the weight of the worst housing slump in decades as foreclosure rates have soared and home sales move at a snail’s pace.
McMahan’s did not return telephone calls for comment, but posted a statement on its Web site Tuesday.
“McMahan’s Furniture ... will close its furniture operations within the next few months. McMahan’s has implemented several strategies to react to the current business environment. However, as the economy has continued to slump, the market for home furnishings has continued to decline.”
The company is running local television ads about a liquidation sale.
Los Angeles-based McMahan’s has 11 stores in California and six in Oregon.
Meanwhile, Summer’s Furniture is closing its two stores in Bakersfield so that owner Betty Siegel can retire.
The local, family-owned furniture store chain has two locations: 431 E. 19th St. and 3601 Ming Ave.
Siegel’s father founded the company in 1940 and added a second location in 1973.
There is no specific date for the closing, Siegel said. It depends on how long it takes to liquidate the company’s inventory.